QInvest, Qatar’s leading Investment bank, has acquired 30.5% of Al Nakheel Agriculture and Trading Company W.L.L. and AG Middle East LLC (together the “Group"). Based in Doha, Qatar, the companies specialize in providing landscaping and related maintenance services to governmental, corporate and industrial customers.
This acquisition is the fourth private equity transaction completed by QInvest in the MENA region and is consistent with its strategy to partner with established businesses that are in need for growth capital to achieve their expansion objectives.
Al Nakheel is a fully integrated landscaping and Maintenance Company established in Qatar in 1998. AG Middle East, established in 1976, is a landscape and irrigation services company involved in the construction, improvement and maintenance of commercial and governmental properties. Al Nakheel's prestigious projects include The Pearl Qatar, Museum of Islamic Art Parks, Qatar Education City Convention Center, Barwa City, Dahlak Island Resort - Eritrea and Sidra Medical Research Canter. AGME’s prestigious projects include Doha 2006 Asian Games Village Hard & Soft Landscaping Works, Doha Golf Course, Ritz Carlton Hotel and the West Bay Lagoon Landscaping Works.
Commenting on the acquisition, QInvest’s CEO, Shahzad Shahbaz, said: “this investment represents the firm’s strategy to diversify its portfolio within the service sector. Our partnerships with Qatari organizations represent QInvest’s commitment to contribute to the growth of the private businesses in Qatar and the region aiming to benefit from the strong growth of the Qatari economy and the government’s strategy to expand and diversify the market”.
H.E. Sheikh Mohammed Bin Fahd Al Thani, Chairman and majority shareholder of the Group, commented, “We are very happy partnering with QInvest and look forward to their support to help us retain our leading position in the market, institutionalize our business and strengthen our operations. We plan on leveraging this relationship to further expand our business and take it to the next level.”
Anuj Khanna, QInvest’s Head of Investment Management, said: “Al Nakheel Agriculture and Trading Company and AG Middle East have a long and successful track record of serving their customers’ needs and have executed several landmark projects in Qatar. We are pleased to have the opportunity to partner with the existing shareholders and management team of both companies to help them realise their objectives.”
He added, “This is our second investment in the outsourced services sector, which is one of our target sectors for investment in Qatar and the region. We believe that Qatar’s strong fundamentals and outlook will benefit the Group as customers undertake major infrastructure and development projects over the next decade. The availability of increasingly sophisticated and environmentally friendly landscaping and maintenance solutions will be appreciated by customers as they drive the exciting transformation of Qatar over the next few years.”